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Confirms everything is tickety-boo. Weak dollar could reduce its c£60m operating profit by just c£2m, and yet Sharecast News makes this the headline. These journos can't see further than their own noses!
Morning all,
Quite a nice bit on Chemring in this interview - around 5 mins in.
https://vimeo.com/508922943/2f0573c7a6
New investor in this stock. From a macro perspective this has been making a rounded bottom over the last 10 years. Price has a 67% chance of breaking up from here. Refer to the weekly chart of Gold, XAUUSD and you will see a similar setup.
Been buying up 280-290 range. Many may see these as high prices, I see these as future bottom entries
Targets.... much higher.
I have sold out now after holding for a year and making a 65 return. I am happy with that given the turbulent market conditions over the last year.
Good luck to those still holding.
AGM on 4 March will be the trigger, if nothing happens before that.
next leg up hopefully, about ready..
BARCLAYS RAISES CHEMRING TO 'OVERWEIGHT' ('EQUAL WEIGHT') - TARGET 380 (250) PENCE
They took their time!!
3.50/4.00.
last month.....what about this month....3.80-4.00
(Sharecast News) - Analysts at Berenberg slightly raised their target price on aerospace and defence firm Chemring from 300.0p to 320.0p on Wednesday, stating cash was "king".
Berenberg said Chemring's post-close trading update was yet another positive touch-point with the market, as cash performance continued to track ahead of expectations and full-year guidance was confirmed at the upper end of current consensus, while the group's order book provided "excellent visibility" for 2021 and beyond.
"Yet again, all this highlights the ongoing resilience and improving quality of the underlying business," said the analysts.
The German bank, which also reiterated its 'buy' rating on the stock, stated that it remained "positively disposed" towards Chemring on the back of higher cash and lower net debt forecasts.
"Indeed, we continue to see upside potential to medium-term estimates given enduring momentum, with the group's low gearing (we forecast 2020 net debt/EBITDA of 0.7x) offering capital deployment optionality, in our view."
£3.50 to £4 next...hands down. Its will start rolling now it has broken the highs....and on very strong results.
excellent results and forward guidance...not many co's say the same under current conditions....
this will re-rate form here....expect 320 to be take out today...as too cheap now. glta. another good one to buy and hold on to.
I would now expect broker upgrades in the range £3.50 - £4.00.
Correction: it HAS broken £3! Where next?
...as expected. Should now break £3 at last.
Excellent!!
Could be the catalyst for an overdue rerating to around £3.
Upward momentum has taken a temporary knock from inevitable profit-taking and poor market sentiment generally at the moment...but it'll get there in the end, in its usual erratic way. Patience will be rewarded.
BERENBERG RAISES CHEMRING GROUP PRICE TARGET TO 300 (235) PENCE - 'BUY'
It was only 2 months ago that its target was 235. Always playing catch-up, these brokers...
Hope so, now back to my purchase price so very happy with that considering the recent stock market drop.
Stunning, but not unexpected. I have always doubted that Covid would pose significant challenges to a business where great attention must already be paid to safe working practices.
Heading back to £3 again...
BERENBERG RAISES CHEMRING GROUP TO 'BUY' ('HOLD') - TARGET 235 PENCE.
Looks quite conservative to me. Seems to assume that this virus business is not going away any time soon.
I have invested here based on positive momentum. Up 13% in 1 month, 32% in 2 months, usually a good sign.
Barclays today reiterates overweight with a target price of 290p.